223 Commerce StKingsport, TN 37660

Property Details for 223 Commerce St

Year built

1920

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

75.00 AC

Property size (Sq ft)

10,140 SF

Property type

Industrial properties

Property subtype

Other warehouses

APN

082046P C 01300

APU

082046PC01300

Description

This exceptional 11,250 square foot vacant commercial property, located at 223 Commerce Street in Kingsport, Tennessee, presents a significant value-add opportunity. Built in 1936, this single-story building sits on a 10,350 square foot lot and is zoned for both restaurant and executive office uses. The asking price is $1,388,000, translating to $123.38 per square foot. Situated in the heart of downtown Kingsport's revitalization efforts, this property benefits from its prime location, proximity to local amenities, and the advantages of being within a designated Opportunity Zone. The property's versatile layout and substantial square footage offer considerable potential for renovation and lease optimization, allowing for diverse income streams. This presents an ideal opportunity for investors seeking to capitalize on the growth and revitalization of downtown Kingsport, particularly those interested in utilizing Opportunity Zone tax benefits. The property's location offers easy access to local restaurants, shops, parks, and public transportation, enhancing its appeal to potential tenants. This is a rare chance to acquire a substantial commercial property in a thriving Tennessee community.

• Alternative Use

  Use

  Valuation

  Residential

  $2,239,708

  Hospitality

  $2,051,561

  Educational

  $1,706,875

  Medical

  $1,765,577

  Retail

  $2,655,138

Location Insight

City

Kingsport

County

Sullivan

State

Tennessee

Latitude

36.5462

Longitude

-82.559

CBSA code

28700

CBSA name

KINGSPORT-BRISTOL-BRISTOL, TN-VA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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